Thyssenkrupp Steel: Massive cuts for employees by 2030!

Thyssenkrupp Steel: Massive cuts for employees by 2030!

Thyssenkrupp Steel Europe is facing a fundamental transformation that will entail significant cuts for employees. In an intensive three-day negotiation process, IG Metall and the company's management negotiated a collective restructuring agreement until September 2030, which aims to bring the economically struggling company back into the black. The contract provides for drastic changes to the existing collective agreement, which are likely to result in financial losses for many of the 27,000 employees.

The changes made include the removal of holiday pay and a reduction in Christmas bonuses. In addition, weekly working hours will be reduced from the current 34 hours to 32.5 hours. These measures are necessary to respond to the ongoing economic weakness, high energy prices and pressure from cheap imports from Asia, which have plunged Thyssenkrupp into an economic crisis.

Job cuts and relocations

As part of these restructuring measures, around 11,000 jobs are planned to be cut. The number of employees is expected to fall from currently around 26,300 to 16,000. A location in Bochum will be closed by 2028, while the closure of another plant in Kreuztal-Eichen will not be implemented for the time being. These steps are part of the plan to significantly reduce the company's capacity.

The company's board member Marie Jaroni described the collective agreement as an important milestone for the future viability of Thyssenkrupp Steel. At the same time, IG Metall district manager Knut Giesler said that a workable compromise had been agreed upon, but that it also contained painful elements.

Future security and member consent

A positive aspect for employees is the exclusion of redundancies for operational reasons until 2030, which creates additional security in uncertain times. In addition, there are guarantees for the locations and investments, which are welcomed by IG Metall.

However, the consent of the IG Metall members is essential for the implementation of the collective agreement, as is the securing of financial resources by the parent company Thyssenkrupp. Ultimately, final agreements should be reached by the end of September that will pave the way for the necessary restructuring of the company.

In summary, both report Mercury as well as WDR about the challenges and measures that Thyssenkrupp Steel Europe must now implement in order to achieve sustainable economic stability.